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Chartered Accountant Career

Description

Chartered accountants are responsible for preparing or reporting on financialstatements for presentation to the public. Chartered accountants act as consultants onfinancial matters, taxation, accounting and computer systems, estate planning andmanagement reporting and procedures & audit, etc. They accept appointments such as

executors, liquidators, trustees or curators.

What am I going to do in thisoccupation?

AccountingThe primary responsibility of chartered accountants in practice is to report on thefinancial statements of clients, to the clients' shareholders as required by itsconstitution or through legislation. In order to compile reports, chartered

accountants examine the books and records of the client, considering the adequacy ofthe controls over the safekeeping of the client's assets, as well as the fairness of thefinancial statements prepared by the client for presentation to its shareholders or thepublic.

Planning and managementChartered accountants compile reports on aspects of management, for use by the clientin improving the management of the company. They investigate the accountingmethods adopted by clients and make recommendations for the improvement thereof.

AuditingChartered accountants investigate the financial reports of the company and then reporton it.

ComputerizationThey also assist in the installation of computerized systems and the development ofprogrammers, the planning of financial models and the giving of advice regarding hard-and software purchases.

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TaxationChartered accountants are tax specialists and they give advice on determining of andthe legal manner of saving tax.

Legal mattersIt is important that chartered accountants are well versed in mercantile and companylaw and are therefore able to handle the legal aspects of contracts, estate planning, andare able to accept appointments such as trustees in insolvent estates, liquidators ofinsolvent companies or curators where people are unable to administer their ownaffairs.

Financial managementChartered accountants who choose to specialize in a career in commerce and industrynormally advance to positions in top management, such as financial directors. In thisposition accountants are responsible for control over the funds and assets of thecompany or institution, the preparation of financial or management reports to topmanagement and the interpretation thereof in order to increase efficiency andprofitability.

Requirements

What kind of personality do I need? To be successful, qualities such as integrity,intelligence, good judgment, a strong analytical predisposition and determination areneeded. It is also necessary to be able to work and convey recommendations bothclearly and accurately.

Where can I work?

Chartered accountants work in registered firms or with practicing charteredaccountants. When qualified they may wish to remain with the firms where articleswere served and look forward to eventual partnerships. They work in commerce andindustry and in the academic world as lecturers.

Can I work for myself in this occupation?

Chartered accountants may start private practices in which case broad experience is

required to take care of the needs of a wide range of clients, or they may enter intopartnerships with other chartered accountants. They may also start businesses inthe commercial and industrial arena.

SKANS School of Accountancy Sialkot